What is the difference between sole ownership and co-ownership?

Sole ownership is when a piece of real estate is owned by only one legal owner, while co-ownership—also called joint ownership—is when property is owned by two or more legal owners. Types of joint ownership include joint tenancy, tenancy in common, tenancy by the entirety, and community property.

Keep in mind that different types of entities may own property, including individuals, businesses, and property placed into trusts.

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